Question

Q.Without goods and services tax
Journalise the following transactions clearly
1.Ramesh started business with cash 1,00,000.
2.Paid into bank 20,000.
3.Bought goods for cash 50,000.
4.Drew cash from bank for office use 10,000.
5.Sold goods to Krishna on credit 15,000.
6.Bought goods from Shyam on credit22,500.
7 received from Krishna 12,500.
Allowed him discount 500.
8. paid cash to Shyam 21,500.
discount received 1,000.
9.Krishna returned goods 2,000.
10.Cash sales for the month 80,000.
11.Paid rent 5,000.
12.Paid salary 10,000​

Answer 1

Answer:

1 cash a/c dr 1,00,000

to capital a/c 1,00,000

2 bank a/ c dr 20,000

to cash a/ c. 20,000

3 purchase a/c dr. 50,000

to cash a/c. 50,000

4. drawing a/ c dr 10,000

to cash a/c. 10,000

5 Krishna a/c dr 15,000

to sell a/c 15,000

6. purchase a/c dr 22,500

toshyam' s. 22,500

7. cash a/ c dr. 12,500

to Krishna' s 12,500

8. Shyam a/ c dr 21,500

to casha/c. 21,500

9. Krishna a/ c dr 2,000

to purchase return a/ c 2,000

10. cash a/ c dr 80,000

to sale a/ c. 80,000

11. rent a/ c dr 5,000

to cash a/ c 5,000

12. salary a/ c dr 10,000

to cash a/c 10,000